Macquarie Group Ltd. Grows Holdings in WesBanco, Inc. (NASDAQ:WSBC)

Macquarie Group Ltd. grew its stake in WesBanco, Inc. (NASDAQ:WSBC – Get Rating) by 2.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,824,176 shares of the financial services provider’s stock after buying an additional 47,398 shares during the period. Macquarie Group Ltd. owned approximately 3.08% of WesBanco worth $67,458,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC raised its holdings in WesBanco by 116.1% during the 3rd quarter. Quadrant Capital Group LLC now owns 804 shares of the financial services provider’s stock valued at $27,000 after buying an additional 432 shares during the last quarter. Ancora Advisors LLC purchased a new stake in shares of WesBanco during the 1st quarter valued at about $43,000. Resurgent Financial Advisors LLC purchased a new stake in shares of WesBanco during the 4th quarter valued at about $50,000. EMC Capital Management bought a new position in shares of WesBanco in the 4th quarter worth approximately $78,000. Finally, Global Wealth Management Investment Advisory Inc. bought a new position in shares of WesBanco in the 1st quarter worth approximately $94,000. 58.78% of the stock is currently owned by institutional investors.

WesBanco Price Performance

Shares of NASDAQ WSBC opened at $26.55 on Monday. The business’s 50 day moving average price is $25.80 and its 200 day moving average price is $32.22. The firm has a market cap of $1.57 billion, a P/E ratio of 8.76 and a beta of 0.90. WesBanco, Inc. has a 52 week low of $19.84 and a 52 week high of $41.37. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.67.

WesBanco (NASDAQ:WSBC – Get Rating) last released its quarterly earnings data on Monday, April 24th. The financial services provider reported $0.71 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.06). The company had revenue of $151.99 million during the quarter, compared to analysts’ expectations of $157.27 million. WesBanco had a return on equity of 8.40% and a net margin of 28.13%. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.70 EPS. On average, sell-side analysts expect that WesBanco, Inc. will post 2.74 earnings per share for the current year.

WesBanco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Saturday, July 1st. Stockholders of record on Friday, June 9th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.27%. The ex-dividend date of this dividend is Thursday, June 8th. WesBanco’s dividend payout ratio is presently 46.20%.

Insider Activity at WesBanco

In other news, COO Jeffrey H. Jackson bought 5,000 shares of the stock in a transaction that occurred on Tuesday, May 9th. The stock was bought at an average cost of $22.34 per share, for a total transaction of $111,700.00. Following the acquisition, the chief operating officer now directly owns 17,627 shares of the company’s stock, valued at approximately $393,787.18. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Gregory S. Proctor, Jr. purchased 3,500 shares of WesBanco stock in a transaction on Thursday, June 8th. The shares were bought at an average price of $28.08 per share, with a total value of $98,280.00. Following the transaction, the director now directly owns 41,913 shares of the company’s stock, valued at $1,176,917.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jeffrey H. Jackson purchased 5,000 shares of WesBanco stock in a transaction on Tuesday, May 9th. The stock was bought at an average cost of $22.34 per share, for a total transaction of $111,700.00. Following the transaction, the chief operating officer now directly owns 17,627 shares in the company, valued at $393,787.18. The disclosure for this purchase can be found here. Insiders bought 25,500 shares of company stock worth $603,155 in the last three months. 3.07% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

WSBC has been the topic of several recent research reports. DA Davidson lowered their price objective on shares of WesBanco from $38.00 to $31.00 in a research note on Wednesday, April 26th. Royal Bank of Canada dropped their price objective on shares of WesBanco from $36.00 to $32.00 in a research note on Wednesday, April 26th. Stephens initiated coverage on WesBanco in a report on Monday, April 3rd. They issued an “equal weight” rating and a $28.00 price objective for the company. Piper Sandler reduced their target price on shares of WesBanco from $34.00 to $29.00 in a report on Monday, May 1st. Finally, Keefe, Bruyette & Woods dropped their price target on WesBanco from $40.00 to $35.00 and set a “market perform” rating on the stock in a research note on Thursday, April 6th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $31.57.

About WesBanco

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WesBanco, Inc operates as the bank holding company for WesBanco Bank, Inc that provides retail banking, corporate banking, personal and corporate trust, brokerage, and mortgage banking and insurance services. The company operates in two segments, Community Banking, and Trust and Investment Services. It offers commercial demand, individual demand, and time deposit accounts; commercial, mortgage and individual installment loans; retail loans, such as residential real estate mortgage loans, home equity lines of credit, and loans for other consumer purposes; installment loans to finance the purchase of automobiles, trucks, motorcycles, boats, and other recreational vehicles, as well as home equity installment loans, unsecured home improvement loans, and revolving lines of credit; and various non-traditional offerings, such as insurance and securities brokerage services.

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